Guidance on financial and asset management of trade unions upon termination of operation

The Vietnam General Confederation of Labor has issued Official Dispatch No. 4181/TLD-TC, providing guidance on the financial and asset management of trade unions in accordance with the Politburo's Conclusion No. 157-KL/TW, dated May 25, 2025, regarding the restructuring of organizational apparatuses and administrative units.

(1) For grassroots trade unions

(1.1) For grassroots trade unions of administrative agencies, armed forces, and public service units that are 100% funded by the state budget (or have a self-financing rate of less than 10%) and are subject to termination of operation:

• Finalize financial statements as of May 31, 2025; continue bookkeeping until the termination date and complete the handover no later than June 25, 2025. Afterward, adjust the financial statements to reflect the termination date.
• Remaining accumulated trade union funds shall be transferred to the directly supervising trade union. If the immediate superior trade union is also terminated, the funds shall be transferred to the second-level trade union.
• Assets shall be handled in accordance with Official Dispatch No. 3563/TLD-TC dated March 12, 2025 regarding asset handling during organizational restructuring.
• Accounting documents, ledgers, and records shall be handed over to the superior trade union in accordance with Official Dispatch No. 3199/TLD-TC dated January 15, 2025.
• Trade union dues and contributions shall cease to be collected from June 1, 2025 at the mentioned units. Any amounts collected after this date must be refunded to the unit or union members who paid them.

(1.2) Grassroots trade unions not subject to termination shall carry out the handover process in accordance with Official Dispatch No. 3199/TLD-TC dated January 15, 2025.

(2) For level-3 trade unions subject to termination

• Finalize financial statements as of May 31, 2025; continue bookkeeping until the termination date and complete this process by June 30, 2025. Then, adjust the financial statements to reflect the termination.
• Accumulated trade union funds shall be handled in accordance with Official Dispatch No. 3716/TLD-TC dated March 28, 2025.
• Assets shall be handed over in accordance with Official Dispatch No. 3563/TLD-TC dated March 12, 2025.
• Accounting data and records shall be handed over to the superior trade union in accordance with Official Dispatch No. 3199/TLD-TC dated January 15, 2025.

(3) For provincial and municipal Federations of Labour; central sectoral trade unions and equivalents; and general corporation trade unions under the Vietnam General Confederation of Labour:

These entities are responsible for instructing and guiding subordinate trade unions to strictly comply with the procedures for financial finalization; accounting handover and receipt; and record archiving as prescribed by the Vietnam General Confederation of Labour.